January 30, 2024

Cos Leos

Noticias Latinoamericanas y Actualidad Mundial Manténgase informado y lea las últimas noticias de The Cosleos.com, la fuente definitiva para el periodismo independiente de todos los rincones del mundo.

Boney Kapoor-backed firm trounces T-Series, Akshay Kumar to win bid for Film City near Noida Airport | Delhi News

3 min read

A firm backed by producer Boney Kapoor along with construction giant Bhutani Group have won the bid for the development of International Film City near the upcoming Noida Airport in Jewar, leaving behind a company backed by actor Akshay Kumar and production company T-Series.

Yamuna Expressway Industrial Development Authority (YEIDA) Tuesday said that out of the four shortlisted companies for the final round, Bayview Projects LLP has been selected as the winner on the basis of highest gross revenue share to the authority.

YEIDA said that the company will provide it with 18% gross revenue share, which was the highest offer in the financial bid among the four companies.

Boney Kapoor is one of the designated partners of Bayview Projects LLP, which had submitted the bid along with the consortium of two other firms — Parmesh Construction Company Limited (Bhutani Group) and Noida Cyberpark Private Limited.

Besides, a company backed by Kumar – Supersonic Technobuild Private Limited, 04 Lions Films Private Limited (KC Bokadia), and Super Cassettes Industries Private Limited (T-Series) were among the finalists for the project.

Festive offer

However, Supersonic Technobuild could offer a gross revenue share of only 10.80% while T-series offered 5.27% and 04 Lions Films offered 15.12% to the authority.

Officials said that now the financial bid will be presented before the committee of secretaries following which it will be sent to the UP cabinet for final approval. After this, the Letter of Award will be issued to the highest bidder.

The Film City will come up in YEIDA’s Sector-21, which is beside the Yamuna Expressway and around 4 km from the upcoming Noida International Airport in Jewar. Under the Phase-1 of the project, a total of 230 acres will be developed, which will include 75 acres (33%) of commercial and 155 acres (67%) of industrial area. The estimated project cost is Rs 1,510 crore and the construction period has been set at three years.

A total of 1,000 acres have been identified for the complete project, out of which 220 acres is for commercial use while 780 acres is for industrial use.

In a meeting held at the higher level in Lucknow in August 2023, it was decided that the Film City will be developed in a phased manner instead of the entire 1,000-acre area being developed in one go. Besides, the concession period, i.e lease of the land, has been increased to 90 years. Earlier, it was 60 years with an option to renew it for another 30 years.

The project is set to have filming facilities, studios, a film institute, an amusement park/family recreation centre, hotels and restaurants, retail shops, a shopping mall, serviced residences and commercial offices besides other filming and supporting assets. The Film City will also have facilities for music production, dubbing, editing, VFX and special effects, film festival and premiere arenas.

On September 29, 2023, the authority had issued a global e-tender for the third time to develop the Film City on Design, Build, Finance, Operate and Transfer (DBFOT) basis.

The first global tender for the Film City was floated in November, 2021. But due to no response from the bidders, the authority issued a second tender in October, 2022. The deadline for this was extended up to February 14, 2023, followed by February 28, 2023, and then again to March 31, 2023, but no bid was received.

Copyright © All rights reserved. | Newsphere by AF themes.